Vancouver – Final results are in for Comaplex Minerals’ (CMF-T) summer 2004 drill campaign on its 78% owned Meliadine West gold project located 20 km northwest of Rankin Inlet, Nunavut.
Both infill and step-out drilling, from the West Tiriganiaq zone returned significant high-grade results, extending the known gold mineralization along strike from the Main Tiriganiaq deposit.
West Tiriganiaq is an on-strike, deeper extension of the main deposit and is situated about 400 metres to the west. The west zone lies between 350-450 metres depth and has been traced laterally for over 600 metres.
Results from the latest round of this season’s expanded 21 drill holes (totaling 9,300 metres) include:
- Hole 04-530A This step-out hole, on the northeastern section of the West Tiriganiaq, intersected 3.1 metres (from 359 metres) grading 12.2 grams gold per tonne; downhole several metres, another one metre intercept returned 7.65 grams gold;
- Hole 04-531A Another step-out core hole on the eastern section of West Tiriganiaq, 100 metres from any previous hole, returned 16.2 metres (from 434 metres) assaying a whopping 188.2 grams gold (uncut), the grade was 40.53 grams gold when high values were cut to 60 grams; again, further downhole, additional mineralized sections of 2 metres of 26 grams, 1.1 metres of 8 grams and 2 metres of 6.3 grams were encountered;
- Hole 04-533 Infill drilling cut 6 metres (from 433 metres) grading 20.8 grams gold;
- Hole 04-534 Another infill drill hole, intersected 2.9 metres (from 425.4 metres) of 34.1 grams gold, and some additional downhole intercepts of 2 metres of 10.8 grams and 3 metres of 17.1 grams.
The two step-out drill holes were located between West Tiriganiaq and the main deposit, and results have shown similarities in geology as well as in mineralization, suggesting continuity between the zones.
The five deposits that constitute Meliadine West have a total indicated resource of 5.2 million tonnes grading 7.7 grams gold (1.29 million contained oz. gold) plus an additional 16.9 million tonnes of 6.1 grams (3.2 million contained oz. gold). The resource calculation was conducted in 2000 and conforms to CIM Standards on Mineral Resources and Reserves as referred to in National Instrument 43-101.
Comaplex increased it interest in the Meliadine West gold project from 22% to 78% through an October 2003 transaction with major Australian miner WMC Resources, whereby WMC’s Canadian subsidiary was merged into Comaplex for US$6.75 million and 5.2 million Comaplex shares. Resultantly, WMC now owns about 14% of Comaplex. Comaplex has an option to increase its interest to 80%.
The company’s partner on Meliadine West is Cumberland Resources (CLG-T), having a 22% carried interest through to production.
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